Zhongjin Lingnan announces early redemption of convertible bonds

Shenzhen Zhongjin Lingnan Nonfemet announced the early redemption of its "Zhongjin Convertible Bonds" at a price of 100.70 yuan per bond, including accrued interest. The redemption conditions were met between September 30, 2025, and October 30, 2025, with the company's stock closing at or above 130% of the current conversion price of 4.29 yuan per share (i.e., 5.58 yuan per share) for at least 15 trading days. The bonds will stop trading on November 21, 2025, with redemption scheduled for November 26, 2025.

Concurrently, the company reported a passive dilution of its controlling shareholder's stake due to recent bond conversions. From November 3 to November 7, 2025, "Zhongjin Convertible Bonds" converted into 115,295,052 A-shares, increasing the company's total share capital from 4,117,334,124 shares to 4,232,629,176 shares. Consequently, the combined shareholding of Guangdong Guang Sheng Holdings Group Co., Ltd. and Guangdong Guang Sheng Mining Group Co., Ltd. was diluted by 0.88%, from 32.43% to 31.54%.

Investors are advised to convert their bonds before the redemption deadline to avoid potential losses, as the current secondary market price differs significantly from the redemption price. The company will delist the convertible bonds from the Shenzhen Stock Exchange following the redemption.